Capital Square: The Villages at Miami Gardens BFR Housing DST
Investment Overview
The Villages at Miami Gardens is a recently constructed build-for-rent community consisting of 50 single-family-style townhomes located in the Miami-Dade MSA, with a mix of three- and four-bedroom units.
Offering Strengths
Positive population growth outlook, newer build, Class A multifamily property in close proximity to entertainment and jobs.
Offering Weaknesses
Property only offers 3 and 4 bedroom apartments.
Key Facts
Sponsor: Capital Square
Structure: Delaware Statutory Trust (DST)
Location(s): Florida
Property Type(s): Multifamily
Assumable Loan: 53.62% LTV
Estimated Hold Period: 7 Years
Key Features
1031 Exchange: Yes
721 Exchange/UPREIT: Yes; Investor Option
Cash-Out Refinance: No
Income Guarantee: No
Distribution Forecast
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Investor Cash Flow | 4.51% | 4.66% | 4.91% | 4.97% | 5.31% | 5.66% | 6.00% | 6.38% | 6.76% | 7.15% |
Sponsor Overview
Capital Square is a vertically integrated, national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $7.9 billion in transaction volume. Capital Square's mixed-use development projects total over 2,000 apartment units with a total development value in excess of $800 million, and Capital Square Living, the firm's property management division, now manages over 13,000 apartments across multiple states. Capital Square's related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for eight consecutive years.